HOPE FOR 2021
Happy New Year!
We hope that you all had a relaxing break. Although we are starting 2021 in our third national lockdown, we hope to provide you with as much support and assistance as we can, despite the children being back "home schooling".
Susie is back on reduced hours from her extended leave, and the kind words from many of you are very much appreciated.
At this time of year we often think about New Year’s resolutions. ("Dry January" was considered, but only until the evening of the 4th January!)
It is also a good time to start planning your tax affairs before the end of the tax year on 5th April.
An obvious tax planning point would be to maximise your ISA allowances for the 2020/21 tax year (currently £20,000 each). Although with interest rates at an all time low there may be better interest being earned on a savings account linked to your current account, but stocks and shares ISA could also be an option.
You might also want to consider increasing your pension savings before 5 April 2021 as the unused annual pension allowance is lost after three years.
For those looking to do some inheritance tax planning, it would be a good time to review (or make) your Will.
If you have missed any of our previous newsletters, then our website has a backlog of them here.